64% – Percentage of charitable giving in 2022 that came from individuals. The rest was from foundations (21%), bequests (9%), and corporations (6%). Although individuals are by far the largest source of giving, their share has been declining, and this is the fourth consecutive year that it was under 70%.
Americans gave almost $500 billion to charity in 2022 — a strong show of generosity but a 3.4% decline (10.5% adjusted for inflation) from record giving in 2021. This was only the fourth time in the last 40 years that charitable giving fell in current dollars. The stock market downturn, high inflation, and other economic uncertainties caused many households to cut back on giving. Even so, a wide range of charities benefited from generous donations. Here are the types of recipients, by percentage of total charitable contributions.
Source: Giving USA 2023
Copyright 2006-Broadridge Investor Communication Solutions, Inc. All rights reserved.
Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances.
To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA / SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Coastal Federal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.
CFS representatives do not provide tax or legal guidance. For such guidance please consult with a qualified professional. Information shown is for general illustration purposes and does not predict or depict the performance of any investment or strategy. Past performance does not guarantee future results.
Trust Services are available through MEMBERS Trust Company. CFS* is not affiliated with Members Trust Company.